Fidelity Guarantee Insurance

Coverage

Fidelity Guarantee insurance will indemnify the Insured against the loss of money or other property belonging to the Insured or for which the Insured is legally responsible as the direct result of any act of Fraud or Dishonesty committed by the Employee as described in the Schedule.

Provided that:

1. the Company shall not be liable in respect of any act of fraud or dishonesty unless
   • it is committed
     • during the Period of Insurance and
     • during the uninterrupted service of the Employee with the Insured in the employment specified against the Employee's name or description
   • it is discovered and notified to the Company within twelve (12) months of being committed or six (6) months after the termination of the Policy whichever is the earlier;
2. the liability of the Company shall not exceed
   • in respect of any Employee the amount stated against his name or description
   • in respect of all claims under this Policy the Total Amount Guaranteed;
3. in the event of an occurrence giving rise to a claim under this Policy and also to a claim under any other Policy of the Company, the liability of the Company shall not exceed the Amount Guaranteed under this Policy or under such other Policy whichever is the greater amount.

Types of Cover

• Named and/or Position Basis - names and/or position of individual employees to be given especially when not all staff is to be covered.
• Blanket Policy - covering all employees in the company, but on unnamed basis.
• Collective Policy - specified amounts guaranteed for each named and position of individual employee covered.
• Floating Policy - named with policy maximum liability regardess of number of defaults or employees involved.

Information Required for Underwriting Consideration

Name of Insured, Nature of Business, Occupation, Number of Employees, Limit of Indemnity, Claim History